Over the years, our team has helped a multitude of clients reach their property goals through minor home renovation and inexpensive cosmetic upgrades. The most rewarding stories are when we get to combine our eye for interior design, a bit of elbow grease, and some staging magic to help our clients receive a substantial return on their property. Below is one of those renovation success stories!
The seller of 8715 SE Steele St. was referred to our team through a third party referral website. Not expecting much return, he was looking for a quick sale of his investment property. Our team met him at his home and quickly saw the property’s potential. We suggested he update the kitchen and main level bath, refinish the flooring, paint the interior and exterior of the home, and landscape the yard. With these changes, we believed he would see a significant return. After some consideration, the seller decided to take on the project.
What was renovated?
We guided the seller on finishes and recommended contractors for the larger renovations. After the transaction, the seller admitted he “initially was reluctant to take [our] advice on several issues, but [was] so glad [he] did [as it] made a huge difference in the marketability of the home”. In the end he spent 6 months on home improvements which cost him approximately $25,000. By the end of the project the home had a new roof, new flooring downstairs, new carpet in the upstairs, fresh paint, and newly finished kitchen, bathroom, and yard. These changes increased our suggested list price from $224,900 to $249,900.
The home went live on a Friday, received 10 offers over the weekend, and was under contract by the following Tuesday. The original buyer fell through on the property, but our team was able to get 6 additional offers and the home was back under contract within 4 days. The house sold a month later at $305,000, 22% above listing price. In the end, our seller’s $25,000 investment left him with a return of $55,100. The transformation he completed on his property and the high return he received for his work makes this one of our team’s favorite listing experiences.